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Room Additions

Home Remodeling ROI in 2012

People often refer to home remodeling as one of the best investments you can make. It’s a great way to update your home and keep up with growing trends or a growing family. The best part is, you usually get most of it back when you sell your home. The kitchen and the bathroom were always the shining example of this. But in 2010-2011 the trend for remodeling projects with the highest Return On Investment (ROI) have shifted from larger home remodels, to smaller home improvement projects. These projects include new exterior paint, window and door replacement, or garage replacements.
A high ROI a homeowner can expect on a kitchen remodel used to be 75-85%. However, according to this year’s Cost vs. Value report that assess home remodeling projects from various regions all around the country, the ROI for a typical kitchen remodel has dropped to 57% for 2011. This is as much as a 30% decrease over the last 5 years. The drop does seem to be bottoming out, which is a sign that the housing market may be as well. But with such a significant drop, it can be easy to understand home remodeling contractors may be experiencing a decrease in kitchen remodels.
Conversely, contractors may be experiencing more work in the home improvement spectrum. Replacement projects typically outperform remodeling projects anyways due to their relatively low cost (a replacement project is any remodeling project completed under $18,000). One of the best replacement project a homeowner can do for their home is a window and door replacement. According to the Cost vs. Value report, a window and door replacement can return over 70% of the cost, 13% higher than kitchen remodeling’s ROI. New windows and doors are considered a valuable replacement projects because there have been numerous advancement in window and door technology, specifically advancements in energy efficiency. This is especially appealing to homeowners since more efficient windows and doors can lower utility bills, which is a huge plus in this market. It might seem obvious that the value of saving money has wide appeal, but it wasn’t too long ago that double ovens and hummers were in fashion.
Home remodeling and the housing market have slowed down, but there are optimistic signs that things are getting better. According the “Housing 360” report by Hanley Wood, about 42% of homeowners feel that it’s a good time to remodel their homes. For homeowner’s with a higher income of $100,000 or more, the statistic increases to 56%. The lack of credit still makes it hard for homeowners to buy new homes or renovate their existing homes. But recently, people have been watching their money closely and been able to provide the money for their home remodeling projects with cash. In fact, 80% of homeowners use cash for remodeling their home.

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Remodeling Contractors

Should You Hire A Remodeling Contractor Or Do The Job On Your Own?

Many people like to do the home renovation jobs by themselves and treat them as weekend DIY projects, as this allows people to save their hard earned money. You can even find nowadays many workshops that teach you the basics of home remodeling so you are more confident in your abilities of doing the job by yourself.
However not everyone has the time to invest in doing such a huge project, particularly with having a regular job as well, so hiring a contractor is the next best thing. But this comes with a set of other problems altogether. First you need to find the contractor, then to hire him and then discuss the job. Then hopefully he will execute your commands without mistakes. Sadly there are many bad apples out there that give contractors a bad name and this is one reason why many people shy away from asking the help of a professional. They say they can do a much better job of it and in many cases they are right.
If you’ve decided to go through the route of hiring a contractor, there are a few things you need to pay attention to. For example one aspect you might consider is price. However avoid hiring somebody just because he has the best prices on offer. This is particularly important if the offer is even cheaper than what you’ve initially estimated. Something is usually wrong with such offers.
One thing that people end up being angry about once the contract is over is the fact that they have to pay extra, more than what they’ve initially agreed. When you sign the contract, make sure you read everything, including the small print. Anything extra that needs to be purchased, such as more materials, should be first approved by you. You don’t have to pay for anything that was not planned and discussed with the contractor beforehand.
As you can see, there are indeed many reasons why one would want to do the home remodeling on their own, without hiring a professional contractor. However this doesn’t mean that you will be scammed out of your money or you will get a bad job all the time. If you decide to hire somebody, you simply need to do your due diligence and learn as much as you can about your contractor, so you can be sure that you get, indeed, a good job done at the end of the day.

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Home Improvement Contractors

Keep Your Home Remodeling Costs Within Budget

Home remodeling costs need not be an encumbrance. Recently, almost all homeowners are opting to remodel their homes. In some way they do it as an investment, to add worth to their assets and at the same time such improvement adds luxury and comfort for all the members of their family.
Possibly you are considering expanding the kitchen, fixing a home theater, modernizing the bathroom fixtures, or merely refurbishing your child’s room. Cost is a concern for most home owners, so you need to choose a remodeling project that will attract potential buyers when you decide to sell later on. After deciding what to remodel, secure budget assessment whether your project meets your financial capacity.
When renovating, the cost of your home or office or whatever is it you’re renovating is not fixed. With the rising costs of labor, materials, gas to operate the tools, and the whole thing, it’s difficult to maintain a constant rate on the work to be accomplished. Each person has a distinct prerequisite that needs distinct scopes of labor, materials, and energy rates, and every contractor has diverse estimates, however nearly all are quite feasible. For every homeowner, cost is the main concern and it is expected that concessions will have to be achieve at some point so that your renovation plan may stay within a feasible budget.
Renovation costs differ all over the U.S. depending on both labor and construction demand. However you need to consider also whether the renovation is worth the wait or purchasing a new home is a much better option. The renovation is based on several factors such as the cost of the particular renovation, the market value of your home, the neighborhood analysis, and such other issues. If the cost is less than 30% of the home’s value, then go ahead with the renovation. Beyond 30% is unacceptable, such renovation cost is much better spent in acquiring a new home.
The most common method to augment the worth of your home is expending several home renovation costs for your current rooms or added floor designs. You have the option whether to add new home appliances, cabinets or new fixtures; or you can go all the way by altering the whole outlook of your home. What’s essential is for you to attain the most pleasing guise for your homes with the budget at hand.
Home renovation costs are shown to be more worthy if used on innovative adds-on in structures like kitchens and bathrooms. There are numerous reasons why homeowners desire to remodel their homes. Whatever the reasons are, you must secure an exact assessment of the extent of the renovation before starting the project.

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Renovation Costs

Things You Should Look For With Remodeling Contractors

Whether the homeowner is do-it-yourself savvy or would simply prefer leaving everything in the hands of experts, the homeowner at one point or another would need the help of home remodeling contractors for their home renovation needs. Whatever project it may be: bathroom remodeling, kitchen remodeling or even custom-built additions to your home – the right kind of contractors would be available to tackle all your home improvement needs. 
However, choosing the proper contractors for your home remodeling project is not as simple as choosing the lowest bidder but it should take into consideration several other factors and elements to ensure that you have the right people to do the job. Making a choice without putting extra time and thought into the selection process would find you ending up with sub-par results that will not only be inconvenient for the whole household but would also entail extra cost.  
Considerations to Take in the Selection Process 
When choosing contractors for your home remodeling project, you should take into account the fact that these people will be coming in and out of your house more frequently during the course of the project. Security would be a number one reason so you must enlist the services if reputable companies that are registered in your state’s Better Business Bureau. Another thing to consider is that the project may be undertaken while your household is normally living their lives under the same roof, so it would be best if you can get along well with your contractors and their crew. 
A safe way of choosing home builders is to get recommendations from friends and family, particularly those whom they have worked with in the past. You can also ask your real estate agent, your architect or your interior designer for other recommendations and they would surely recommend someone whom they have worked with on previous projects and can get along well with.  
Understanding the Functions of Contractors 
In the strictest sense, a contractor is someone who agrees to perform some work for you as part of a legally binding contract or agreement, but the term has been used extensively in the construction industry. A project usually involves some bidding where a contractor declares a proposed budget that can include the materials, the labor costs, payments for subcontractors, and the overall contractor’s fee. 
Depending on the scope of work, contractors have the option to hire qualified subcontractors to help them complete the project. These subcontractors may be construction specialists who are focused on a particular type of work like cabinet making or plumbing, which may be beyond the specialization of the contractors themselves. However, the quality of work and overall management of the subcontractors would fall under the responsibility of the contractor and he shall be liable for any work done by these subcontractors. 
Contractors are also expected to work closely with the architects or interior designers and should discuss any design elements that needs clarification or confirmation. This is why it is important that during the bidding stage, the contractors should understand the scope and complexity of work required, particularly if there are several custom design elements inclusive in the work. The success or failure of the home improvement project would depend on this.

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Kitchen Renovation

2013 Home Remodeling Trends

The home remodeling themes of 2013 are practicality and efficiency. While the country is still recovering from the recession, the lessons learnt from houses being lost to foreclosure are that of living within our means. For many people this means living in smaller homes but making the most of the space, taking the indoor/outdoor environment into consideration, and making a home work for individual needs.
Bigger is no longer better. The trend has been called the tiny home trend. Homes as small as 500 square feet are being built on small lots of land, but for most people with families, buying homes that fit the needs of the family without excess space is what is working. Within those homes open floor plans have replaced formal dining and sitting rooms. Kitchens blend into common areas and dining spaces. This not only allows for better functionality in the home, but for more open conversation and interaction of those living there.
People currently remodeling are not just looking at what is going to work for them now, but also what will be helpful in the future. The baby boomer generation is retiring and keeping an eye on how their lives might change. Doors are being widened to accommodate wheelchairs. Bathroom remodels include larger showering spaces, or doing away with glass walls and having an open shower with tile floors. Bi-level countertops and sinks are being installed for those who have active children or parents needing wheelchair accessibility. Access in and out of homes is also being considered.
Because so many people work from home, having a space where one can work in without distraction is also critical. Home offices are being created from baby rooms or other smaller rooms in the house. Home offices can also be converted in the future to bedrooms, living rooms or other spaces.
Another popular trend is making sure homes are well insulated and energy efficient. This includes the insulation in the walls as well as double paned windows, energy efficient appliances and more.
Appearances, as always, are important. As for the indoors, hidden appliances are the trend, meaning dishwashers are covered with wood fronts, other appliances sit in drawers built to fit them. Minimalist design is reigning in the kitchen and other rooms.
Carpets are out. Heated wood floors are the most popular and leave a clean finish and something that doesn’t show the wear and tear carpeting does.
Outdoors, we are seeing much more native landscaping and rock landscapes that require little water and little upkeep.
If you’re planning a whole house remodel or a partial one, keep in mind efficiency, functionality and practicality. How can your home better serve you?